VELCO
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Diversity, Equity, Inclusion, and Belonging (DEI)
- Environmental Stewardship
- Governance and Ethics
Environmental Achievements
- Construction of new backup control center and secondary data center in New Haven, designed to operate free of fossil fuels with an extensive geothermal HVAC system and solar panels.
- Commissioned a 500 kW solar + 250 kW / 1.2 MWh battery project, reducing Pinnacle’s electricity bills by over $130,000 and generating carbon-free energy.
- Reduced foliar herbicide use over time through integrated vegetation management (IVM) practices.
- Replacement of diesel-fueled pumps with electric pumps at Highgate facility, eliminating HCFC fire protection system.
Social Achievements
- Advanced Belonging initiative, creating a DEI statement and completing 14 assessments covering corporate structure.
- Offered several DEI trainings and experiences, including Inclusive Leadership, Outward Inclusion, and Creating a Respectful and Inclusive Workplace.
- Made equity-based salary adjustments based on a compensation study.
- Expanded health-related offerings, including MotivateMe®, Omada, MD Live, Ginger, and TalkSpace.
- Donated $20,000 to 78 organizations and strategically invested $150,000 in Vermont by sponsoring 51 organizations and events.
Governance Achievements
- Maintained a robust ethics program and adhered to high ethical standards.
- Implemented policies and practices to ensure prudent and economical investment of electric customer dollars, including a Bounds of Authority matrix and Procurement Policy.
- Established a confidential whistleblower policy.
Climate Goals & Targets
Medium-term Goals:
- Convert VELCO passenger fleet to all-EV by 2026 and company light pickup fleet to EV by 2028.
Short-term Goals:
- Decarbonize HVAC equipment at corporate headquarters (80% reduction by 2025).
Environmental Challenges
- Reducing greenhouse gas footprint from SF6 gas facilities, transportation, and substation service.
- Balancing the need for vegetation management with the protection of endangered species (Indiana bat).
Mitigation Strategies
- Implementing near-term measures to mitigate SF6 gas risks (on-line gas monitoring, leak alarms, inventory tracking).
- Prioritizing the use of non-SF6 insulating mediums in new electrical apparatuses.
- Developing a strategy to employ a bat deterrent system (though ultimately not needed in the specific case).
Supply Chain Management
Responsible Procurement
- Open bidding process and vendor/proposal evaluation for significant purchases; Challenge Board for unique or strategic procurements.